I need help finding the value of a 5-unit historic multi-family home.

[Amber P.]

Hi,

I am a real estate agent, working on listing a 5-unit property in a historic district downtown. I've researched comps all over the area and they are all over the board. I've talked to lenders and understand that there are a few different ways to value a property like this but I want to know if anyone has any advice on the best way to price a property like this one.

Four out of the five units are leased and the owner currently lives in one of them. This is not a condo, but a multi-family, approximately 108 years old and in a certified historic district. From what I can see of the P&L, it cash flows, but I have asked the owner for an updated P&L to be sure and for the rent roll for the last three years. It does need some repairs, but is in good structural condition and he has done a great deal of work to upgrading kitchens and baths in each unit.

Any advice would be appreciated.

Thanks!
Amber